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Hormel Plant, Austin, MN in 2023. In 2011, Hormel Foods announced a two-for-one stock split. [39] In 2013, Hormel Foods purchased Skippy—the best-selling brand of peanut butter in China and the second-best-selling brand in the world—from Unilever for $700 million; the sale included Skippy's American and Chinese factories. [40]
In August 2007, Hormel Foods, based in Austin, Minnesota, purchased Burke Corporation. In 2011, the Ames facility closed, moving its assets and production to the Nevada plant. Bill Burke, Jr continued to run the company until he retired in 2012. Chad Randick currently serves as president, leading the Burke team since 2015. [4] [5]
It is now a subsidiary of the Hormel Foods Corporation in Willmar, Minnesota. [20] The company was founded by Earl B. Olson in 1940, when he began raising turkeys. In 1949, he bought the former Farmers Produce Company of Willmar and its turkey-processing plant. [21] In 1953, it was renamed to Jennie-O after his daughter, Jennifer Olson.
Hormel Foods (HRL) is gaining from increased retail sales, courtesy of rising demand amid coronavirus-led pantry loading. However, high supply-chain costs amid the pandemic are a concern.
Chi-Chi's restaurant announced an agreement on Tuesday with Hormel Foods, an Austin, Minnesota-based global food company that owns Chi-Chi's trademarks, the release said.
Hormel Foods Corporation (NYSE:HRL) shares are trading lower on Wednesday. The company reported that fourth-quarter adjusted earnings per share were 42 cents, which is in line with the street view.
Jennie-O Foods Inc Plant #1, Willmar, Minnesota Jennie-O processing plant, Willmar, Minnesota. Jennie-O Turkey Store is a brand name of turkey products. It is a subsidiary of the Hormel Foods Corporation in Willmar, Minnesota.
First sold in 1932, [1] Skippy is currently manufactured by Hormel Foods, [2] which bought the brand from Unilever in 2013. [3] It is the best-selling brand of peanut butter in China and second only to the J.M. Smucker Company 's Jif brand worldwide.